Tesla Inc. TSLA is increasing the price of the "Full Self-Driving" feature in its electric vehicles by $1,000 starting July 1, Chief Executive Officer Elon Musk said Monday.
The driver-assistance option currently costs $7,000. According to Musk, the price of the feature will "continue to rise" going forward. When the autonomous driving feature nears to "full capability" and receives regulatory approval, the price is "probably somewhere in excess of $100,000," Musk noted. The billionaire entrepreneur suggested last month the price of the full self-driving feature will "probably" increase on July 1.
Musk has been lately embroiled in a public feud with Alameda County officials as Tesla scrambled to restart production at its Fremont factory after an elongated shutdown imposed to curb the spread of the novel coronavirus (COVID-19). Tesla shares closed 1.8% higher at $813.63 on Monday. The shares traded slightly lower at $811.50 in the after-hours session.
Image Credit: Courtesy of Tesla.com.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
